Cost of Living in Hennepin County, Minnesota
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Hennepin County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Hennepin County ranks #2,823 of 3,144 counties for affordability (bottom 10%)
Data Story
About Cost of Living in Hennepin County, Minnesota
Hennepin housing strains household budgets
Hennepin County's rent-to-income ratio of 17.9% significantly exceeds both the national standard and Minnesota's state average of 14.5%, meaning renters sacrifice nearly one-fifth of income to housing. The county's median rent of $1,439 reflects premium urban pricing in Minnesota's largest metro area.
Priciest housing in Minnesota
Hennepin County ranks among Minnesota's least affordable counties, with a 17.9% rent-to-income ratio driven by its metropolitan density and high demand. Median home values of $376,500—nearly double many rural counties—signal the cost premium of living near Minneapolis.
Twin Cities premium towers above rural peers
Hennepin's $1,439 rent towers over rural neighbors like Grant County at $779 and Jackson County at $736, though higher incomes ($96,339) partially offset the gap. The metropolitan advantage in wages doesn't fully compensate for the housing cost surge.
Housing claims nearly one-fifth of income
Renters spend $1,439 monthly while homeowners commit $1,788, with median homes valued at $376,500. Together, housing consumes 17.9% of the $96,339 median household income—above the national comfort threshold and straining many households.
Urban convenience comes with high costs
Hennepin County offers unmatched job diversity and urban amenities, but housing costs claim more than 17% of income—significantly above affordability benchmarks. If you're relocating to the Twin Cities, budget carefully or consider surrounding counties for lower costs with metro access.
Cost of Living Advisory: Hennepin County
Affordability Verdict
Hennepin County offers affordable rental housing at a median of $1,439/month — about 17.9% of the typical household income here.
Rent vs. Own
The median rent in Hennepin County is $1,439/month, while owner costs run $1,788/month. Renting saves approximately $349/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $57,560/year. For owner costs at the 28% rule, the required income is roughly $76,629/year. With a median household income of $96,339, most households can comfortably afford rent here. Notably, 28.0% of renter households in Hennepin County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Dakota County where rent averages $1,497/month, Hennepin County is approximately 4% less expensive.
Affordability Calculator
See how your income compares to housing costs in Hennepin County
Rent Burden
17.9%
of gross income
Max Housing (28% Rule)
$2,248
per month
Owner Cost Burden
22.3%
of gross income
The median home in Hennepin County may be a stretch
Median home value is $376,500. Estimated monthly cost: $3,006 vs. your max of $2,248.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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